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Now, Adanis bid for 11 silos to be set up by Pungrain

Pungrain had signed an MoU with Nabard in May this year for silos in 11 parts of the state from which it got a loan of Rs 1,600 crore under the Nabard Warehousing Scheme of 2013.

Written by Kanchan Vasdev | Chandigarh | Published: August 6, 2015 8:57:55 am

A day after bidding for all 11 grain silos being set up by the Punjab State Warehousing Corporation (PSWC), Adani Enterprise Limited on Wednesday showed interest in 11 silos being set up by Pungrain, an agency of the Food and Civil Supplies department.

Pungrain had signed an MoU with Nabard in May this year for silos in 11 parts of the state from which it got a loan of Rs 1,600 crore under the Nabard Warehousing Scheme of 2013. The awards would be announced shortly, sources said. Along with Adanis, LT Foods Limited is  another potential bidder for the project.

Pungrain, an agency of the state government that has set up silos in Amritsar, is under the food department, headed by Food and Civil Supplies Minister Adesh Pratap Singh Kairon. He is known to back cheaper silos. As per Pungrain’s memorandum on understanding with Nabard, the state would collect the rental income from the silos and pass it on to Nabard in instalments. Once the Rs 1,600 crore loan is paid back, the silos would become a property of the state, claim Pungrain officials.

Those being set up by PWSC, on the other hand, are based on Engineering, Procurement and Construction (EPC) model. Those are also funded by Nabard and would be handed over to the company setting it up for 20 years. The PWSC would pay the operation and maintenance cost to the company for 20 years after which these would become a property of the state.

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